ETH/USD looking for a break of the descending triangle.
Could go either way right now but based on bullish momentum in the market i'm relatively optimistic and still in my long position.
TP 490's - 500's with a stop right under 450.
ETH had a healthy recovery after the massive dip from $520.
Currently making higher highs and higher lows and will eventually try to either form a double top or cup and handle formation.
It's a bit early to tell but a cup and handle formation would be ideal for more upward momentum.
A double top would bring us back down to the mid 380's - low 400's for a...
ETH/USD looks to be overbought with RSI levels relatively high on the daily time frame but that might not matter since we're in blue sky break out mode.
A potential for a Head & Shoulders is forming with this rising wedge and could lead to a breakdown.
TP ~ 540 on the upside or ~380 on the down side.